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Shares Made Simple: A beginner's guide to the stock market by Rodney Hobson

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Chapter 8: How Shares Are Traded

When share trading started in the coffee houses of London in the 17th century investors would have met face to face to make deals. However, the system became increasingly impractical as the number of investors and companies grew. This was the beginning of stock exchanges, which grew up around the country. It was found more efficient for all interested investors to meet in one designated exchange where the best prices could be found in an ordered market.

In the past, investors placed their buy orders with a stockbroker, who passed on the requests to a jobber, who carried out the actual trade on the trading room floor by finding another jobber trying to sell a similar amount of the same shares at roughly the ...

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